FOMC Upstaged By DNC – Ep. 183

FOMC Upstaged By DNC – Ep. 183


* Today the Federal Reserve concluded its 2-day FOMC meeting and it announced - surprise, surprise - that interest rates are not going up
* But of course the statement was much more important than their actions because these days, it doesn't matter what the Fed does; all that matters is what they say they're going to do, or more accurately, what they will pretend to do
* It really doesn't matter what they say, they're not going to do anything
* I explained that on my last podcast; I explained it again on CNBC Futures Now
* People obviously still don't get it and I continue to use the analogy of Teddy Roosevelt's "Speak softly and carry a big stick." but if you have no stick, which is the situation with the Fed, then you have to speak loudly, and if you speak loudly enough, nobody will notice that you have no stick at all
* That's what the Fed did today when they did not raise rates, but released their somewhat hawkish statement, saying that the near-term risks to the economic outlook have diminished
* What does that mean?
* We think the economy looks better, and therefore a rate hike might be appropriate
* The Fed said that the job market had strengthened, which it did for one month - we had one strong month, but it is a low bar
* But that is only superficial - when you look beneath the surface, it is worse
* According to the Fed, the job market strengthened and the economy is expanding at a moderate rate
* If we have an strengthening job market and the economy is expanding moderately, why are interest rates still practically zero?
* The Fed mentioned that household spending is growing, but again the bar is set pretty low
* The continued to say that they believe the economy is evolving in a way that will warrant gradual rate hikes
* By gradual they mean, "No more rate hikes."
* They raised rates once in January and they haven't raised them since
* I think the tightening cycle ended when they raised rates, and began when they started to talk about tapering
* We are now in an easing cycle
* Despite some general better-than-expected economic data, we got some very weak news this morning
* We got the number for June Durable Goods and they were looking for a decline of 1.3%
* We got triple that decline: 4% decline and in fact they took the may number down from -2.2% to -2.8%
* Year over year we're down 6.4% - that's a huge decline
* The biggest decline in 2 years
* If you look at the core capital goods, down again 3.7%
* This is a massive streak - we've now seen the year-over-year core number down 18 months in a row
* The longest losing streak in history when the U.S. economy was not in recession
* I believe that this streak will continue and ultimately it will be longest losing streak ever - including recessions
* Which would mean that year-over-year core durable goods would have been weaker during this "recovery" than in any prior recession on record
* What does that tell you about the character about the so-called recovery, if is produces data that is even worse than during an official recession?
Our Sponsors: * Check out FRE and use my code LISTEN20 for a great deal: https://frepouch.com * Check out Infinite Epigenetics: https://infiniteepigenetics.com/GOLD * Check out Justin Wine and use my code SCHIFF20 for a great deal: https://www.justinwine.com Privacy & Opt-Out: https://redcircle.com/privacy

Episoder(1086)

SchiffRadio Podcast Episode 5

SchiffRadio Podcast Episode 5

Episode 5 Synopsis: * Debunking Ned Davis' predictions on gold * Chicago Fed president Charles Evans hints that the Fed can't raise interest rates * Alan Greenspan gives Fed a pass on CNBC * Brokerage houses hit by FINRA arbritation results * Eurozone low inflation 'scare' * Collapse in Fannie and Freddie stock * The numbers behind the weekly economic data Our Sponsors: * Check out FRE and use my code LISTEN20 for a great deal: https://frepouch.com * Check out Infinite Epigenetics: https://infiniteepigenetics.com/GOLD * Check out Justin Wine and use my code SCHIFF20 for a great deal: https://www.justinwine.com Privacy & Opt-Out: https://redcircle.com/privacy

6 Okt 20142h 24min

SchiffRadio Podcast Episode 4

SchiffRadio Podcast Episode 4

Episode 4 Synopsis * Launch of the iPhone 6 * Surprising employment arbitration results * Housing market rolls over * Hotel minimum wage * World Bank head claims that QE works Our Sponsors: * Check out FRE and use my code LISTEN20 for a great deal: https://frepouch.com * Check out Infinite Epigenetics: https://infiniteepigenetics.com/GOLD * Check out Justin Wine and use my code SCHIFF20 for a great deal: https://www.justinwine.com Privacy & Opt-Out: https://redcircle.com/privacy

28 Sep 20142h 23min

SchiffRadio Podcast Episode 3

SchiffRadio Podcast Episode 3

SchiffRadio Podcast Episode 3 Synopsis: * FOMC: Janet Yellen's official statement and her response to her Q&A, later in the day * Market reaction to Yellen's statement, and the "walk" vs the "talk". * The Ali Baba IPO * The breakdown in the price of Bitcoin * My crazy email exchange with CNBC's Joe Kernen * Scotland votes to remain in the UK Our Sponsors: * Check out FRE and use my code LISTEN20 for a great deal: https://frepouch.com * Check out Infinite Epigenetics: https://infiniteepigenetics.com/GOLD * Check out Justin Wine and use my code SCHIFF20 for a great deal: https://www.justinwine.com Privacy & Opt-Out: https://redcircle.com/privacy

21 Sep 20142h 4min

SchiffRadio Podcast Episode 2

SchiffRadio Podcast Episode 2

SchiffRadio Podcast Episode 2 Synopsis * Economic Data - More weak data * Purchase applications index declined by 7.2% - biggest decline in 14 years * Treasury yields slightly up for the week * Retail sales up - Buying more or paying more? * auto purchases with cheap money * inflation not taken into account * Auto loans increasingly delinquent * Fed Policy * I'll admit to being wrong if the Fed raises interest rates back to normal and shrinks its balance sheet back to normal, as promised, and does not produce a financial crisis. * Interest Rates * Negative Interest Rates in Japan and in Switzerland * Inflation * Paul Krugman says we should be at 4% inflation and a minimum wage of $10.10 * Commentary on Henry Blodgett's inflation comments * Column from David K. Johnson on how corporations are getting rich by paying taxes * Employment * Jobless claims up, indicating a trend change * The Economy * Recognizing bubbles ahead of the crisis * Europe - Poll on Scottish independence * Social Issues: * The NBA in the hot seat for racism * Over-reaction to the Ray Rice story Our Sponsors: * Check out FRE and use my code LISTEN20 for a great deal: https://frepouch.com * Check out Infinite Epigenetics: https://infiniteepigenetics.com/GOLD * Check out Justin Wine and use my code SCHIFF20 for a great deal: https://www.justinwine.com Privacy & Opt-Out: https://redcircle.com/privacy

15 Sep 20142h 3min

Schiff Radio Podcast Episode 1

Schiff Radio Podcast Episode 1

Schiff Radio Podcast Episode 1  Synopsis: * Wall Street foolishly dismisses August's horrible Jobs Report * ECB cuts rates in misguided push for higher inflation. * "Shrink-flation," what is it and why those using the term still don't get it. * Implications of Switzerland's coming gold reserve vote . * Protesting Fast food workers determined to put themselves out of work. * Does Alibaba's biggest IPO in history shows portent more interest in foreign stocks? * Countrywide's Anthony Mozilo is not the real villain. * NY Fed concedes 25% of college grads wasted their time and money. Our Sponsors: * Check out FRE and use my code LISTEN20 for a great deal: https://frepouch.com * Check out Infinite Epigenetics: https://infiniteepigenetics.com/GOLD * Check out Justin Wine and use my code SCHIFF20 for a great deal: https://www.justinwine.com Privacy & Opt-Out: https://redcircle.com/privacy

9 Sep 20141h 52min

Schiff Radio – January 1, 2014

Schiff Radio – January 1, 2014

Happy Holidays!, Due to the holidays, Peter Schiff Show is airing best-of broadcasts. Our Sponsors: * Check out FRE and use my code LISTEN20 for a great deal: https://frepouch.com * Check out Infinite Epigenetics: https://infiniteepigenetics.com/GOLD * Check out Justin Wine and use my code SCHIFF20 for a great deal: https://www.justinwine.com Privacy & Opt-Out: https://redcircle.com/privacy

2 Jan 201449min

Populært innen Business og økonomi

stopp-verden
e24-podden
rss-penger-polser-og-politikk
dine-penger-pengeradet
lydartikler-fra-aftenposten
rss-borsmorgen-okonominyhetene
rss-vass-knepp-show
utbytte
pengepodden-2
finansredaksjonen
tid-er-penger-en-podcast-med-peter-warren
livet-pa-veien-med-jan-erik-larssen
morgenkaffen-med-finansavisen
stormkast-med-valebrokk-stordalen
okonomiamatorene
rss-markedspuls-2
lederpodden
rss-sunn-okonomi
rss-fa-makro
rss-fri-kontantstrom